The most profound aspect of the text is that as a writer on the internet, your job is to serve the reader by providing answers to their questions. The video explores various ways to monetize writing, including building a personal brand, leveraging social media, creating and selling online courses, self-publishing books, offering freelance writing services, and pursuing speaking engagements and consulting opportunities. It emphasizes the importance of consistency and curiosity in writing, as well as finding a niche and dominating a specific category. The video also discusses the importance of carving out a niche and dominating a specific category rather than competing in an existing one. It provides practical tips for enjoying the journey as a writer and offers insights and perspectives for writers at different income levels. The video also explores the strategies of ghostwriting, copywriting, and sales copywriting, as well as the concept of productizing oneself. It discusses the challenges and opportunities of building an agency and provides advice for pricing services. The video also covers the topics of paid newsletters, lean writing, blogging advice, finding your platform, deciding what to write, and overcoming the challenge of not having expertise. It concludes by emphasizing the importance of identifying your target market for the success of your business.
Intro
The most profound aspect of the text is that as a writer on the internet, your job is to serve the reader by providing answers to their questions.
Key points:
- Understanding that as a writer, your job is to serve the reader by providing answers to their questions
- How to get started and build an audience as an online writer
- Practical tips for making a full-time income through online writing
- Anyone can become a writer with the right skills and practice
Using language to change how people think / how you got into writing
Using language to change how people think and how you got into writing:
- The speaker, Nicolas Cole, shares his journey into writing, starting from his background as a hardcore gamer and his interest in writing since childhood.
- The speaker questions the traditional publishing process and explores alternative ways for writers to make money.
- The speaker discovered the power of language to change how people think through their experience on Quora, where they realized that every question was essentially a writing prompt.
- Monetizing writing was a challenge for the speaker, who initially relied on traditional book sales but later turned to digital marketing strategies.
- The speaker emphasizes the importance of discipline and commitment in writing, sharing their experience of writing one answer a day on Quora for a year.
- Monetizing writing on Quora involved providing answers to questions that people have and understanding the audience's needs.
- The speaker highlights the need to think like an entrepreneur and find a niche that serves the reader or viewer.
- Writing should be approached with the end in mind, considering what the reader needs and using writing to serve that need.
- The video emphasizes the importance of viewing writing as a business and creating a niche through consistent content creation.
Your journey to online writing
- As a writer, it is important to identify your niche that brings in money while pursuing multiple interests.
- Understanding that different pursuits may not have the same financial outcome.
- Brief mention of a sponsor, Huel, and the benefits of using their product for a healthy and convenient meal replacement.
How to monetise your writing
Summary: This summary explores various ways to monetize writing, including building a personal brand, leveraging social media, creating and selling online courses, self-publishing books, offering freelance writing services, and pursuing speaking engagements and consulting opportunities. The importance of consistency and curiosity in writing is emphasized, along with the value of pursuing hobbies and acquiring skills. The speaker also discusses the risk-averse mindset of individuals in traditional careers.
How to find your niche
Finding your niche as a writer is about mastering a skill rather than titles or outcomes. Making your first dollar online opens up possibilities and excitement. The law of inertia emphasizes the importance of taking action and staying in motion. Here are the key points:
- Focus on mastering a skill rather than titles or outcomes
- Making your first dollar online opens up possibilities and excitement
- The law of inertia highlights the importance of taking action and staying in motion
- Set a two-minute timer to trick the brain into getting started on a task
- Finding a niche often lies at unlikely intersections
- Combining two seemingly unrelated things can lead to unique and lucrative opportunities
Advice for consistency
The most profound aspect of the text is the importance of carving out a niche and dominating a specific category rather than competing in an existing one.
- Surround yourself with others doing the same thing to create a sense of community and pursue goals.
- Focus on mastering the skill and enjoying the journey rather than solely focusing on the outcome.
- Set goals, but remember to enjoy the journey and track progress along the way.
- Build trust with yourself and consistently generate income through side hustles before quitting a job.
- Use Quora to get writing republished by major publications and generate enough traffic to quit a job.
Hang around the hoop
The most profound aspect of the topic is the author's experience as a writer and how he made a significant income by writing articles for Ink magazine.
Key points:
- The author started writing for Ink while still working a day job.
- His high output of articles brought in millions of page views and earned him a substantial monthly income.
- Evergreen content did not apply in this case, as continuous production of articles was necessary to maintain income.
- The author transitioned to ghostwriting, allowing him to charge a premium for his time.
- The video briefly mentions the author's previous job as a copywriter for an ad agency.
Practical tips for enjoying the journey
Practical tips for enjoying the journey as a writer:
- Find joy in the process, not just the end goal of making money
- Focus on improving skills, building a personal brand, creating valuable content, networking, and finding a unique voice
- Embrace the journey, continuously learn and grow
- Increase chances of success and fulfillment
1 - Ghostwriting
Ghostwriting is a practical solution for clients who lack the time or writing skills to share their ideas and expertise. It involves transcribing and refining the client's message into a written piece, focusing on capturing the essence of what they want to say. The stigma around hiring ghostwriters is diminishing, making it a lucrative skill and side hustle for writers. Ghostwriters are in high demand across various industries, and the opportunity to become one is easier now than ever before. It offers writers the chance to make $1 million by providing written content for profitable creators on the internet.
2 - Copywriting
Copywriting is a lucrative way for writers to make money, by offering ghostwriting services to creators and entrepreneurs. The easiest way to get started is by offering to do the first week of content for free, which can lead to paid opportunities and long-term collaborations. This approach has proven successful, as many creators and entrepreneurs are willing to hire talented writers to help scale their online presence.
- Offering to do the first week of content for free can lead to paid opportunities and long-term collaborations.
- Many creators and entrepreneurs are willing to hire talented writers to help scale their online presence.
Productising yourself
- Three ways to make a significant income as a writer: ghostwriting, productizing yourself, and sales copywriting
- Ghostwriting involves writing for others without being credited
- Productizing yourself means creating a product that generates consistent income with minimal effort
- Sales copywriting pays based on the outcome you drive, not the effort you put in
- Successful sales copywriters structure deals to receive a percentage of the revenue increase they generate
- Being paid based on your ability to generate revenue or conversions is comparable to how salespeople are compensated with commissions
- Writing content that prompts people to purchase or take action allows you to be paid as a scalable salesperson.
Pricing your service
The most profound aspect of the topic of pricing your service is the importance of studying the work of great sales copywriters and gaining practical experience in selling something yourself.
Key points:
- To become a successful sales copywriter, study the work of great sales copywriters like Gary Halbert.
- Gain practical experience by selling something yourself.
- Transitioning from being a ghostwriter to building an agency requires scaling the business and gaining high-profile clients.
- Managing the growth of a ghostwriting agency can be challenging.
- Running a ghostwriting agency requires a strong sales machine to attract and retain clients.
- There is a "value of death" between a quarter million and a million in revenue, where the agency's margins and profitability decrease.
- To avoid becoming overwhelmed and unhappy, aim for a revenue of 10 million or more.
3- Sales copywriting
Sales copywriting is a crucial aspect of business success, and there are several key points to consider in this field:
- Strategic decision-making, such as downsizing the team, can be necessary for survival and growth.
- Daniel Priestley's model suggests that businesses should aim for a team size of 12 or below for optimal fun, freedom, and flexibility.
- Profitability should be prioritized over head count when hiring employees.
- Focus on revenue-critical tasks and levers that contribute to growth, rather than simply adding more employees.
- Many tasks can be contracted out or done on a part-time basis, reducing the need for full-time employees.
- Keeping the writing team small can improve efficiency and revenue generation.
- Consider hiring full-time revenue-critical employees and contracting the rest.
- Operating at a deficit to maintain a waitlist for clients can be a viable option.
- Working for oneself as a sales copywriter can lead to significant income, rather than joining an agency.
- Scaling with an agency may not result in more money and can bring additional responsibilities and challenges.
- Understanding the value of death between one and ten million is crucial for success.
- Transitioning from a writer to a manager requires a different skill set.
Building an agency
Building an agency:
- Focusing on specialty skill set and charging more to scale earnings
- Aligning work with desired time management preferences
- Two types of successful paid newsletters: timely newsletters and expert-level newsletters
- Providing value to readers by saving time or offering expertise
- Treating paid newsletters as a business, not a personal diary or support platform
- Subscription revenue is more lucrative than ads
- Shifting mindset from personal interest to serving readers and starting a business
- Reaching six figures as a writer is possible through trial and error, while reaching seven figures requires clarity and focus
- Insights and perspectives for writers at different income levels
4 - Paid newsletters
Paid newsletters offer writers a lucrative opportunity to make money by providing valuable content to their audience. Here are the key points to consider:
- Different models for making money as a writer include writing books, providing services, or creating courses.
- Traditional publishing offers authors an advance and royalties, while self-publishing allows for higher earnings per sale.
- Publishers are willing to pay writers substantial amounts for newsletters based on the potential for audience growth.
- Self-publishing through platforms like Amazon is a viable option for higher earnings.
- Building an audience is crucial, with a focus on consistently delivering valuable content rather than just gaining a large number of followers. Quality of followers matters more than quantity.
Moving from 6 figures to 7 figures
Taking a data-driven approach to building an audience and growing as a writer is crucial in moving from 6 figures to 7 figures. This involves aligning the audience with the product or service being offered and leveraging digital writing to accelerate the feedback loop. By analyzing data and identifying what resonates with the audience, writers can double down on successful content and continuously refine their niche. It is important to focus on one project at a time rather than jumping between multiple projects, and to discard what doesn't work. Success in the YouTube world is also mentioned as a potential avenue for achieving 7 figures.
5- Writing books
Writing Books: How to Make $1 Million and Gain Readership
- Finding a niche and standing out in the industry is crucial for writers to make $1 million.
- "Lean writing" involves throwing ideas out there and focusing on the ones that gain traction.
- Successful authors like Ryan Holiday and Mark Manson stumbled upon their best-selling books through experimentation and responding to audience feedback.
- Turning blog posts into books can be a profitable strategy, as shown by examples of writers who have done so.
- Being extremely famous is not necessary to make a lot of money as a writer; even a small number of dedicated readers can lead to financial success.
- Starting a blog can be compared to being a legacy writer in the digital world.
- Gaining readership through search engine optimization (SEO) on personal blogs can be challenging due to the lack of a distribution flywheel.
- Writers should focus on serving the reader rather than showcasing their own uniqueness.
- Writing enough does not guarantee viral sharing or high Google rankings, as businesses with significant resources dominate search engine results.
- Understanding how to make money as a writer is important, and it is possible to make a living as a writer.
- Relying solely on a personal website is not advised; publishing on platforms like Twitter, LinkedIn, Quora, and Medium can help reach a larger audience.
- Leveraging social platforms is like going to a party and promoting oneself to gain visibility as a writer.
Lean writing
Lean writing is a strategy for writers to make $1 million by focusing on creating high-quality content, building a personal brand, leveraging social media platforms, creating digital products, and developing a scalable business model.
Key points:
- Write directly on social media platforms like Twitter and LinkedIn to effectively reach and engage with the audience.
- Having a large audience is not necessary for success; social platforms distribute content to a small group initially and expand based on engagement.
- Create high-quality content that consistently surpasses engagement thresholds.
- Use a data-driven approach to test different audiences and outcomes to determine what works best.
- Experiment and evolve to find what resonates with the audience.
- Understand the market and target a broader audience for better results.
- Consider data points beyond views, such as comments and engagement, to determine the success of your writing.
- Write about topics you are passionate about and that align with your business goals.
- Engage with individuals who comment on your content for valuable insights and potential customers.
- Focus on teaching and helping others to overcome imposter syndrome and build a loyal following.
- Cater to the specific needs and interests of your target audience.
- Aim to attract a smaller group of dedicated fans or followers rather than trying to attract everyone.
- Build a social following and an email list to interact with readers.
- Start building an email list once you have a clear understanding of your target audience and their needs.
- Use the email list to provide more in-depth content to the same audience.
- Focus on long-term thinking and not being attached to specific outcomes.
- Build an online library to scale yourself digitally and avoid repeating yourself.
- Invest time to learn the necessary skills for writing in the digital age.
- Utilize social media platforms and writing programs like Ship 30 for 30.
- Create digital products and develop a scalable business model.
Blogging advice
Blogging advice: Tips for success in the blogosphere
- Consistency is key: Regularly publishing high-quality content is crucial for building a loyal audience and improving search engine rankings.
- Find your niche: Identifying a specific topic or target audience will help you stand out and attract a dedicated following.
- Engage with your readers: Responding to comments and actively participating in discussions will foster a sense of community and encourage reader loyalty.
- Utilize social media: Promoting your blog on platforms like Facebook, Twitter, and Instagram can significantly increase your reach and drive traffic to your site.
- Optimize for SEO: Implementing effective search engine optimization strategies will improve your blog's visibility and organic traffic.
- Monetize your blog: Explore various monetization methods such as affiliate marketing, sponsored posts, and selling digital products to generate income from your blog.
- Network with other bloggers: Collaborating with fellow bloggers can help you expand your audience, gain valuable insights, and build mutually beneficial relationships.
- Stay updated with industry trends: Keeping up with the latest blogging trends and techniques will ensure that your content remains relevant and appealing to your audience.
- Be patient and persistent: Building a successful blog takes time and effort, so stay committed and don't get discouraged by slow progress.
How to find your platform
Finding your platform involves identifying the best medium for your message and audience.
Key points:
- Determine your target audience and their preferred platforms
- Consider the type of content you want to create and which platforms support it
- Research the demographics and user behavior of different platforms
- Experiment with different platforms to see which ones resonate with your audience
- Analyze the success of your content on each platform and adjust your strategy accordingly
How to decide what to write
Deciding what to write involves considering your interests, audience, and goals. To make this decision, you can follow these steps:
- Identify your interests and passions
- Consider your target audience and their needs
- Set clear goals for your writing
- Research and gather information on potential topics
- Evaluate the relevance and potential impact of each topic
- Prioritize topics based on your interests, audience, and goals
- Start writing and refine your ideas as you go along
What if I don’t have expertise?
Not having expertise can limit opportunities and hinder success. However, there are ways to overcome this challenge and still achieve goals.
Key points:
- Lack of expertise can lead to missed opportunities and limited growth.
- It is important to acknowledge and accept one's limitations.
- Seeking guidance and learning from experts can help bridge the gap in knowledge.
- Developing transferable skills can compensate for the lack of expertise in a specific field.
- Embracing a growth mindset and being open to learning can lead to personal and professional development.
- Building a strong network and collaborating with others can provide support and access to expertise.
- Taking calculated risks and being willing to learn from failures can lead to valuable experiences and growth.
- Persistence, determination, and a willingness to work hard can help overcome the challenges of not having expertise.
Identifying your target market
Identifying your target market is crucial for the success of your business.
Key points:
- Understanding your target market helps you tailor your products or services to meet their specific needs and preferences.
- Conducting market research and analyzing customer data can help you identify your target market.
- Demographic factors such as age, gender, income, and location can play a role in defining your target market.
- Psychographic factors such as values, interests, and lifestyle can also help you narrow down your target market.
- Identifying your target market allows you to create targeted marketing campaigns and reach the right audience.
- Regularly reassessing and refining your target market can help you stay relevant and adapt to changing customer needs.